$16,000,000,000,000. That is the number that would appear on the United State's theoretical credit card statement.

Although the analogy is often made, our country's debt is not similar to our personal debt, according to Jose Gabilondo, an associate professor of law at Florida International University.

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"I can't borrow indefinitely, you can't, but the government can. In a way, it's not the number that matters," said Gabilondo. "What matters is can you make your monthly payment? And are your creditors still lending to you? The answer for our country, is yes."